19,900 Shares in Selective Insurance Group, Inc. $SIGI Purchased by Strs Ohio

Key Points

• Strs Ohio acquired 19,900 shares of Selective Insurance Group, Inc. during the first quarter, amounting to a value of approximately $1.82 million.
• Insider transactions included CEO John J. Marchioni purchasing 3,200 shares, increasing his stake to 139,775 shares valued at around $10.89 million.
• Selective Insurance reported a earnings per share of $1.31 for the last quarter, missing expectations by $0.24, and announced a quarterly dividend of $0.38 per share.

Strs Ohio bought a new stake in shares of Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,900 shares of the insurance provider's stock, valued at approximately $1,822,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Olde Wealth Management LLC bought a new stake in shares of Selective Insurance Group in the 1st quarter worth approximately $28,000. Amundi raised its stake in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider's stock valued at $36,000 after buying an additional 311 shares in the last quarter. Brooklyn Investment Group bought a new stake in Selective Insurance Group during the 1st quarter worth about $38,000. Toth Financial Advisory Corp bought a new position in shares of Selective Insurance Group in the 1st quarter valued at about $41,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Selective Insurance Group by 752.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 537 shares of the insurance provider's stock worth $49,000 after acquiring an additional 474 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, CEO John J. Marchioni bought 3,200 shares of Selective Insurance Group stock in a transaction that occurred on Monday, July 28th. The stock was purchased at an average cost of $77.89 per share, for a total transaction of $249,248.00. Following the completion of the acquisition, the chief executive officer owned 139,775 shares of the company's stock, valued at approximately $10,887,074.75. This represents a 2.34% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Mccarthy purchased 2,500 shares of the business's stock in a transaction dated Monday, July 28th. The shares were acquired at an average price of $77.42 per share, for a total transaction of $193,550.00. Following the acquisition, the director directly owned 18,746 shares in the company, valued at $1,451,315.32. This represents a 15.39% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 10,602 shares of company stock worth $817,440 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Selective Insurance Group Trading Down 1.1%

NASDAQ:SIGI traded down $0.87 during trading hours on Friday, reaching $77.43. 1,832,665 shares of the stock were exchanged, compared to its average volume of 489,187. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 12.67 and a beta of 0.44. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.28. Selective Insurance Group, Inc. has a twelve month low of $71.75 and a twelve month high of $103.56. The business has a 50-day moving average of $79.92 and a two-hundred day moving average of $84.87.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.24). Selective Insurance Group had a return on equity of 12.61% and a net margin of 7.50%.The firm had revenue of $1.29 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the previous year, the business posted ($1.10) EPS. On average, equities analysts predict that Selective Insurance Group, Inc. will post 7.62 EPS for the current year.

Selective Insurance Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were paid a dividend of $0.38 per share. The ex-dividend date was Friday, August 15th. This represents a $1.52 annualized dividend and a yield of 2.0%. Selective Insurance Group's dividend payout ratio is 24.88%.

Analyst Upgrades and Downgrades

SIGI has been the subject of a number of research analyst reports. Morgan Stanley cut shares of Selective Insurance Group from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $86.00 to $72.00 in a research report on Tuesday, August 5th. Keefe, Bruyette & Woods lowered their target price on Selective Insurance Group from $92.00 to $84.00 and set a "market perform" rating on the stock in a research report on Monday, July 28th. BMO Capital Markets set a $88.00 price target on Selective Insurance Group and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Finally, Piper Sandler cut their price target on Selective Insurance Group from $88.00 to $79.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Selective Insurance Group has an average rating of "Reduce" and a consensus target price of $87.33.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.